Institute for Energy Economics and Financial Analysis
There are major opportunities to cut energy bills while supporting Australia's clean energy transition.
Key takeaways:
- All major pathways to improving energy affordability in electricity and gas either support Australia's net zero pathway or are neutral to it.
- Significant new investment in electricity infrastructure is unavoidable, as ageing coal plants and networks retire – but renewables, transmission upgrades and storage are the lowest-cost option for new generation.
- Energy efficiency, electrification and distributed energy resources (DER) offer the largest savings for households, reducing net energy bills by up to 67%.
- Increasing competition and fixing inefficient network regulation and Australia's broken gas market could deliver immediate and lasting cost relief – independent of climate policy debates.
Embargoed until 25 November (IEEFA Australia): Dispelling the notion that reducing emissions comes at the expense of Australian households and businesses, a new report has shown that all the major opportunities to improve energy affordability in electricity and gas also either support – or are independent to – the nation's net zero ambitions.
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